THE FUNDING STRATEGY
The Funding Strategy is intended to answer the fundamental question - How can Charlotte and the region financially support and fund the implementation of the Transformational Mobility Network ?
The Task Force process revealed a clear distinction between a Funding Strategy and a detailed Financial Program . Despite similar wording , the differentiation is largely a function of the order of operations , scope of considerations , and decision-making required .
The Funding Strategy is the first step to a more detailed Financial Program that will need to be prepared to further test and refine the funding recommendations of the Task Force .
The Funding Strategy is based on the following key characteristics : time and duration , program scale and amount , and funding sources .
1
TIME AND DURATION
Constructing the Transformational Mobility Network will take time . Each project will require design and permitting ; some will require additional rights-of-way ; and in the case of key transit projects , funding partnerships from State and Federal sources .
In addition , some projects still face major hurdles for implementation such as the necessary negotiation with Norfolk Southern Railroad for the use of the rail corridor for the Lynx Red Line .
The Transformational Mobility Network is intended to be a mobility investment program that can be implemented within a 10 + year period . Some projects may take longer than 10 years to implement ; however , it is expected that the full mobility investment program will advance and be substantially completed during this time frame .
~ 90 Miles of New Rapid Transit Corridor Investments
~ 140 Miles of Bus Priority Corridor Investment
~ 115 Miles of New Greenway Investment
~ 75 Miles of Bike Network Investment
~ 150 Square Miles of Focused First and Last Mile Pedestrian Investment
~ 60 Miles of Roadway Corridor Investment
60 HOW | The Funding Strategy